Company No: 11164014 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	54,400		132,435
Tangible assets	4	9,385		11,820
		63,785		144,255
Current assets
Stocks	5	102		84
Debtors	6	164,888		138,619
Cash at bank and in hand		57,038		194,927
		222,028		333,630
Creditors: amounts falling due within one year	7	( 26,405)		( 51,550)
Net current assets		195,623		282,080
Total assets less current liabilities		259,408		426,335
Provision for liabilities		( 12,622)		( 38,968)
Net assets		246,786		387,367
Capital and reserves
Called-up share capital		2		2
Profit and loss account		246,784		387,365
Total shareholder's funds		246,786		387,367

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Race At Your Pace Limited (registered number: 11164014) were approved and authorised for issue by the Director on 29 July 2026. They were signed on its behalf by:

A L Hawkins Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Race At Your Pace Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for race entry fees and the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Turnover is recognised in the period to which it relates.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	5 years straight line
Development costs	5 years straight line

Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	7		5

3. Intangible assets

	Goodwill		Development costs		Total
	£		£		£
Cost
At 01 November 2024	11,000		467,011		478,011
At 31 October 2025	11,000		467,011		478,011
Accumulated amortisation
At 01 November 2024	11,000		334,576		345,576
Charge for the financial year	0		78,035		78,035
At 31 October 2025	11,000		412,611		423,611
Net book value
At 31 October 2025	0		54,400		54,400
At 31 October 2024	0		132,435		132,435

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 November 2024	65,937		65,937
Additions	4,345		4,345
At 31 October 2025	70,282		70,282
Accumulated depreciation
At 01 November 2024	54,117		54,117
Charge for the financial year	6,780		6,780
At 31 October 2025	60,897		60,897
Net book value
At 31 October 2025	9,385		9,385
At 31 October 2024	11,820		11,820

5. Stocks

	2025		2024
	£		£
Stocks	102		84

6. Debtors

	2025		2024
	£		£
Trade debtors	13,232		158
Other debtors	151,656		138,461
	164,888		138,619

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		16,667
Other taxation and social security	1,509		3,703
Other creditors	24,896		31,180
	26,405		51,550

8. Related party transactions

Transactions with the entity's director

Advances

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 November 2024, the balance owed by the director was £123,961. During the year, £158,879 was advanced to the director, and £162,882 was repaid by the director. At 31 October 2025, the balance owed by the director was £119,958.

At 1 November 2023, the balance owed by the director was £43,592. During the year, £152,782 was advanced to the director, and £72,413 was repaid by the director. At 31 October 2024, the balance owed by the director was £123,961.

Other related party transactions

**David Hawkins (brother of A L Hawkins) - Loan with interest charged at HMRC approved rate.**

At 1 November 2024, the balance owed by David Hawkins was £92. During the year, £Nil was advanced to David Hawkins, £Nil was repaid by David Hawkins. At 31 October 2025, the balance owed by David Hawkins was £92.

At 1 November 2023, the balance owed by David Hawkins was £131,260. During the year, £Nil was advanced to David Hawkins, £131,260 was repaid by David Hawkins, and £92.31 of interest was charged on the loan. At 31 October 2024, the balance owed by David Hawkins was £92.